IRS is hiring hackers to break into hardware wallets.
The IRS is looking for people that can break or create tools to get into cryptocurrency wallets. It is for criminal investigations or, I would say, for tax evaders as well. Vice reported this on April 29. IRS Criminal Investigation, the law enforcement division of the Internal Revenue Service, and the Digital Forensic Unit are seeking to have contractors devise methods to break into digital currency wallets. The IRS is also reportedly looking for technologies that it can use dependably in different cases in the future.
One of the things that government agencies have been doing is sending notices to centralized exchanges so that if a person is being investigated, they can take the funds from them. It means that they are trying to take the money from people who don't collaborate with an investigation, which means that if you don't give your private keys, they are trying to find a way to hack into it and take your property.
The United States is testing with digital currencies, and so one way to destroy a competitor is by removing the funds from the rightful owners or just because people decided not to pay their taxes. The government is looking for enforcement or forcefully removing funds from private keys. They need hackers because they anticipate that people will not be willing to give up their private keys, so they will need a way to find the private keys by hacking into your devices.
One way to fight against this is to memorize your 12 or 24 seed words, and you only use your hardware wallet as a decoy. If things are getting to that level, the only way to conserve your privacy will be to memorize everything related to cryptocurrencies. I would call this a brain wallet that carries the risk that you may forget your 12 seeds forever, but if the government is too intrusive, citizens won't have any other choice than to use brain wallets.
Once again, I don't have a problem with taxes, but if taxes are going to be too unfair, you have no choice but not to sell your assets ever again so that you don't collect capital gains or any taxes because you haven't sold, and once again the regulators think you are a slave. Biden's capital gains proposal was trying to tax you almost 40%. Once government realizes that no one is selling not to pay taxes, they will next implement unrealized capital gains, which will mean you pay taxes even if you don't sell, and you pay taxes just by having wealth. I don't have any problems paying taxes, and I have a problem when taxes are too high.
And the US government is getting crazy like any other government going through inflation because they know they have printed too much money. They want the regular citizen to have no ways to escape the hyperinflation coming to the US dollar. After all, it is not a reset if you get to keep your wealth. In other words, the government and central banks want you poor and needy just like Venezuelans are today, but here in America.
And now there is a rumor that the government or some legislator wants to implement an 80% tax. Take a load of that, and ask yourself why you don't want your local fiat exchange to know how much crypto you have.
If the government were to implement 80% taxes on either capital gains or crypto taxes, I could assure you many would leave the nation forever. Not only that, many will take their backpacks and exit, and they will not care if they become tax evaders or not. You should declare that everyone is enslaved and, as such, whatever you produce is for the state and the state only.
But high taxes are always following because politicians inflate the money supply, and they don't want wealth to escape. Once a country starts to tax too high, the next thing that comes is trying to get the funds, so capital controls are imposed, and at that point, you would better have sold everything you own and moved to another country.
Read the following articles about the IRS trying to break crypto wallets and the 80% rumor tax for cryptos.
Charles Gasparino asks SEC commish to clarify Bitcoin regulations after a wild 80% tax rumor.
IRS Seeks Ways To Access Digital Currency Wallets Under Criminal Investigation.
https://www.pymnts.com/taxes/2021/irs-seeks-ways-to-access-digital-currency-wallets-under-criminal-investigation/#:~:text=IRS%20Seeks%20Ways%20To%20Access%20Digital%20Currency%20Wallets%20Under%20Criminal%20Investigation&text=U.S.%20tax%20authorities%20want%20assistance,agency%20website%20in%20March%202021.
I found out about this by watching a youtube video not created by me.
